Saudi Arabia's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $17 Mn in 2022 to $204.9 Mn by 2030, registering a CAGR of 36.5% during the forecast period of 2022-2030. The market will be driven by the increased need for efficient and accurate diagnostic tools and investments in healthcare infrastructure by the government. The market is segmented by component & by diagnosis. Some significant players include IBM Watson Health, Siemens Healthineers & Philips Healthcare.
Saudi Arabia's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $17 Mn in 2022 to $204.9 Mn by 2030, registering a CAGR of 36.5% during the forecast period of 2022-2030. Saudi Arabia features a hybrid public-private healthcare system that provides high-quality care. Moreover, the government's Ministry of Health provides around 60% of services. Diabetes, respiratory illness, cardiovascular disease, and cancer account for more than 80% of all NCD-related premature deaths worldwide. NCDs account for 73% of all fatalities in Saudi Arabia.
Although the use of AI in diagnostics is still in its early stages in Saudi Arabia, there were various initiatives and collaborations happening to encourage the adoption of these technologies. The use of AI-based diagnostic tools is projected to rise in the future as awareness and knowledge of their potential advantages improve. In 2020, Saudi Arabia has unveiled its National Strategy for Data and AI (NSDAI), which seeks to make the kingdom a worldwide leader in AI by 2030.
In February 2023, Digital Diagnostics, the founder of the first-ever FDA-cleared, fully autonomous AI system for the diagnosis of diabetic retinopathy, announced a strategic alliance with Tamer Healthcare, an integrated healthcare and wellness firm with over 100 years of established business in the Kingdom of Saudi Arabia, to further enhance healthcare and innovation in the Kingdom of Saudi Arabia.
Market Growth Drivers
The increased need for efficient and accurate diagnostic tools has led to the use of AI-powered diagnostics systems. The Saudi healthcare business is also facing a dearth of competent healthcare experts, making AI an appealing solution to this problem. Furthermore, the Saudi government has made significant investments in healthcare infrastructure, which has expanded the availability of healthcare services and resulted in the spread of AI-powered diagnostic tools.
Market Restraints
The high cost of deploying AI technology might be an impediment for some healthcare providers that do not have the financial means to invest in these systems. Moreover, some healthcare professionals and patients lack faith in AI systems. Some healthcare professionals are hesitant to rely completely on AI-powered diagnostic systems and prefer traditional techniques, which may restrict the system's adoption. The legal environment for AI-powered diagnostics in Saudi Arabia is still growing, which may generate uncertainty and hinder the implementation of these technologies.
Key Players
The Saudi Food and Drug Authority (SFDA) is the government organization in Saudi Arabia that oversees medicines and medical devices. The Ministry of Health (MOH) is the primary government institution in charge of providing preventative, curative, and rehabilitative healthcare to the Kingdom's people. The Ministry of Health offers primary healthcare (PHC) services throughout the Kingdom through a network of healthcare centers. It also employs a referral system to offer curative treatment for all members of society, ranging from general practitioners at health centers to advanced technology specialist/curative services delivered through a diverse network of general and specialty hospitals. The MOH is also in charge of overseeing and monitoring the private sector's healthcare-related operations.
1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
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